SRM Contractors Ltd Auditor Reports

ontheQuarterlyandYeartoDateAuditedStandaloneFinancialResultsofthe Company Pursuant to the Regulation 33and Regulation S2 of the SEB) (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended

To the Board of Directors of SRM Contractors Limited Report on the audit of the Standalone Financial Results Opinion

We have audited the accompanying statement of quarterly and year to date Standalone Financial Results of SRM Contractors Limited(the ‘Company}, for the quarter ended 31 March 2024 and the year-to-date results for the period from 1 April 2023 to 31 March 2024 (the ‘Statement}, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations).

InouropinionandtothebestofourInformationandaccordingtotheexplanationsgiventous,theStatement:

i. ls presented in accordance with the requirements of Regulation 33 and Regulation 52 of the Listing Regulations in this regard; and

ii. gives a true and fair view in conformity with the recognition and measurement principles laid down the applicable accounting standards and other accounting principles generally accepted in India of the net profit, other comprehensive Income, and other financial information of the Company for the quarter ended 31 March 2024 and for the year-to-date results for the period from 1 April2023to31 March2024.

Basis for Opinion

We conducted our audit to accordance with the Standards an Auditing (SAs) specified under section 143(10) of the Companies Act,2013{theAct).OurresponsibilitiesunderthoseStandardsarefurtherdescribedIntheAuditorsResponsibilitiesforthe AuditoftheStandaloneFinancialResultssectionofourreport.WeareindependentoftheCompanytnaccordancewiththe Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethicalrequirementsthat are relevanttoourauditofthefinancialresultsundertheprovisionsoftheCompaniesAct,2013andtheRulesthereunder,andwehave fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter

ThecompanyhasaccumulatedbalanceofRs61.12lakhsinCSRactivitieswhichwasspenton31.03.2024

BoardofDirectors"ResponsibilitiesfortheStandaloneFinancial Results

The statement has been prepared on the basis of the standalone annual financial statements. The Companys Board of Directors areresponsibleforthepreparationandpresentationoftheStatementthatgivesatrueandfairviewofthenetprofitandother comprehensive Income of the Company and other financial information in accordance with the recognition and measurement principles laid down in applicable accounting standards and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventinganddetectingfraudsandotherIrregularities;selectionandapplicationofappropriateaccountingpolicies;making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate Internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevanttothepreparationandpresentationoftheStatementthatgivesatrueandfairviewandarefreefrommaterialmisstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to gain concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. TheBoardofDirectorsarealsoresponsibleforoverseeingtheCompanysfinancialreportingprocess.

AuditorsResponsibilitiesfortheAuditoftheStandaloneFinancialResults

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance,butisnotaguaranteethatanauditconductedinaccordancewithSAswillalwaysdetectamaterialmisstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain Professional scepticism throughout the audit. We also:

i. Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design, and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

ii. Obtain an understanding of internal control relevant to the audit In order to design audit procedures that are appropriate In the circumstances. Under Section 143(3)(i} of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls,

iii. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures madebythe Board of Directors.

iv. Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on

the Companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the financial results or, if such disclosures are Inadequate, to modify ouropinion.ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditorsreport.However,future events or conditions may cause the Company to cease to continue as a going concern.

v. Evaluatetheoverallpresentation,structureandcontentoftheStatement,includingthedisclosures,andwhetherthe Statement represent the underlying transactions and events in a manner that achieves fair presentation.

Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingofthe audit and significant audit findings, including any significant deficiencies in internal control that we Identify during our audit,

Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought tobear on our Independence, and where applicable, related safeguards.

Attention Is drawn to the fact that the Statement includes the results for the quarter ended 31 March 2024 and the corresponding quarter for the previous year, which are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the end of the third quarter of the relevant financial year, which were subjected to a limited review,asrequiredundertheListingRegulations.